April 2005

Verastar opens independent salvage auction in Savannah, Georgia

Atlanta, GA— Verastar, a group of 12 independent salvage auto auctions located in Georgia, Kentucky, North Carolina, and Tennessee, announced its latest expansion, the acquisition of an 81-acre tract in the Effingham Park of Commerce in greater Savannah. The new Verastar facility is strategically placed to provide service throughout eastern Georgia and South Carolina and to facilitate exports by foreign buyers.

“Verastar initiated this expansion in response to numerous requests from our insurance company customers, as well as salvage buyers,” said President Janet Covey. Janet and Chris Covey also own and operate the three Atlanta-area Verastar facilities, as well as the Asheville, North Carolina, and Tifton, Georgia, auctions.

The company expects to begin site development within the next 30 days, and plans to begin operations this spring, working out of temporary modular space while construction on its permanent building is underway. When completed the large, multi-purpose building will include office and meeting space, onsite claims offices for insurance clients, and an indoor drive-through auction area.

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